Leon Manoff, executive managing director with Williams RealEstate, tells GlobeSt.com that the NPG deal and Viacom's1.3-million-square foot renewal and expansion are part of anincreasing trend. "Tenants are staying in place for a variety ofreasons, many related to cost," he says. "They might be able tofind space a little cheaper elsewhere, but after you factor inconstruction and moving expenses, it makes more sense torenew."

Manoff, who represented NPG in the lease, says the deal alsoillustrates the appeal of the Hudson Square area. "It's become amedia hub," he says, noting that MTV Networks and New Yorkmagazine have relocated to the neighborhood in the past year and ahalf. The large floorplates of Hudson Square's office buildings areconducive to media operations, Manoff says, and the area itself"has developed a cachet."

In a release, Manoff also cites Williams Real Estate's 16-yearrelationship with NPG parent Macmillan Publishers as a factor inthe deal's success. NPG publishes journals and online databasesacross the life, physical and applied sciences and, most recently,clinical medicine.